After World War II, rising consumerism and a reduction in trade barriers led to an ever more deeply connected and interdependent global economy. As more goods got to more people more quickly, the United States emerged as the world’s undisputed economic superpower.
But in recent years, there’s been a backlash to American-powered globalization. The turmoil and uncertainty unleashed by the financial crisis of 2008 was followed by a rise in populism and protectionism around the world. Recent events, including the Covid-19 pandemic and Russia’s war in Ukraine have exposed further fractures in the global economy. This has led to a debate about an alternative economic order. China's rapid rise, as well as the establishment of economic alliances like BRICS (Brazil, Russia, India, China and South Africa) have led to speculation that the era of US-dominated globalization could be coming to an end. In this edition of Business Beyond, we ask: has globalization had its day, and if so, what will come in its wake?
00:00 Intro
01:48 A unipolar world, coming undone?
03:48 The big question: China
06:03 An alternative alliance? The BRICS
07:59 Stuck in the middle – India
10:31 Breaking up the old order - Russia’s dream
12:43 The battle of the superpowers - two systems or one?
14:32 Conclusion: A new order?
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But in recent years, there’s been a backlash to American-powered globalization. The turmoil and uncertainty unleashed by the financial crisis of 2008 was followed by a rise in populism and protectionism around the world. Recent events, including the Covid-19 pandemic and Russia’s war in Ukraine have exposed further fractures in the global economy. This has led to a debate about an alternative economic order. China's rapid rise, as well as the establishment of economic alliances like BRICS (Brazil, Russia, India, China and South Africa) have led to speculation that the era of US-dominated globalization could be coming to an end. In this edition of Business Beyond, we ask: has globalization had its day, and if so, what will come in its wake?
00:00 Intro
01:48 A unipolar world, coming undone?
03:48 The big question: China
06:03 An alternative alliance? The BRICS
07:59 Stuck in the middle – India
10:31 Breaking up the old order - Russia’s dream
12:43 The battle of the superpowers - two systems or one?
14:32 Conclusion: A new order?
Subscribe: https://www.youtube.com/user/deutsche...
For more news go to: http://www.dw.com/en/
Follow DW on social media:
►Facebook: https://www.facebook.com/deutschewell...
►Twitter: https://twitter.com/dwnews
►Instagram: https://www.instagram.com/dwnews
Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/dwdeutsch
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Francisco Gimeno - BC Analyst We believed at the beginning of 2020 that this would be a decade where many changes would occur, and we thought we were prepared. Not even three months inside 2020 a Pandemic, continued by different geopolitical shifts which have radically changed the idea of globalisation sold to us since the end of the Cold War, and which has had its run for some time. The physical conflicts now are against the idea of this US led globalisation, as China prepares to be a strong superpower, and Russia tries to not be left behind, while other local powerful countries join to do the same. Russia is justifying its bullish behaviour calling for the end of the old globalisation order and the apparition of a new world order where US is not the big police chief anymore. China tries to expand its sphere of influence everywhere in many ways with a lot of means, and the renewed strength of BRIC countries (at least in being heard more than before) which represent billions of people, make this world a very different one of the one of last decade. What is going to happen from now on? There will be a divide between democratic countries and the rest? How is the new order going to work and for how long if the division is too strong? We are part of this, so by looking at the tress we can't see the forest, we have to live this every day and fight for a better world.